Source: Deutsche Bank Research
Measured as a percentage of revenues, financial services firms spend more on IT than any other industry. Research from Deutsche Bank asks how much output is generated from the IT input.
The global banking industry will spend an estimated USD 270 to 460 billion for IT in 2013. Financial services firms’ IT budgets equal 7.3% of their revenues, which is well above other industries relative IT costs. A closer look at banks’ cost structures reveals differences between different markets.
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